Claim super-deduction and deal with asset disposals where super-deduction has been claimed in Corporation Tax

Super-deduction

Alternative method using version 22.0 or 23.0 — add super-deduction and special rate first-year allowance manually

Sign in as an administrator.
Go to
Tools
,
Manager
, then 
Computation Parameters
.
Select the
CA Rates
tab.
For Special Rate Assets:
In the row beneath the current details, enter
01/04/2021
as the
Start Date
.
For the
End date
, replace
ongoing
with
31/03/23
.
Enter
50
in the
FYA %
column.
For General Pool:
In the row beneath the current details, enter
01/04/2021
as the
Start Date
.
For the
End date
, replace
ongoing
with
31/03/23
.
Enter
130
in the
FYA %
column.

Select
OK.
When you enter an item in the General Pool or Special Rate Pool with a date from 1 April 2021 to 31 March 2023, mark the
FYA
checkbox to apply the new rates.
If you entered an item in the Special Rate Pool with the
FYA
checkbox marked:
Go to
Accounts
, then
Fixed Assets Reconciliation Summary
.
Select
Details
.
Select the
Qualifying Additions
tab.
In the
Special Rate Pool
row, replace the
Auto
item with the correct amount.
To manually adjust boxes if you use Corporation Tax versions 22.0 or 23.0:
Right-click box
705
and select
Enable Editing
from the context menu.
Change the amount to remove the part that relates to the super-deduction.
Select box
691 (Machinery and Plant - super-deduction)
and enter the amount.
To complete the boxes for the special rate allowance:
Right-click box
695
and select
Enable Editing
.
Change the amount to remove the part that relates to the super-deduction.
Select box
693 (Machinery and Plant - special rate allowance)
and enter the amount.
For the expenditure:
Right-click box
760
and select
Enable Editing
.
Change the amount to remove the part that relates to the super-deduction.
Manually add the amounts to box
772 (Machinery and Plant - super-deduction)
and box
773 (Machinery and Plant - special rate allowance)
as needed.

Enter disposals of assets where super-deduction was claimed

Manually calculate the balancing charge for the asset.
Create a new user-defined pool for each disposal of this type:
Go to
Capital Allowances
.
Select
Assets
.
In the
Other Capital Allowances Claimed
folder, select
User-defined Assets
.
Select
New
.
Enter an
Asset Name
.
Select
Add Row
.
Enter the original
Addition Date
.
Enter 0 for the
Cost / B Fwd
.
Enter the
Disposal Date
.
Enter the
Proceeds
amount (this is the balancing charge for the asset you calculated earlier).
Select
Calculate Allowance
.
If the disposal is of an asset where the Special Rate First Year Allowance has been claimed at 50% or where the allowance was not claimed in full, you'll need to go to the Special Rate Pool (or General Pool) and dispose of the portion of the asset in that pool.
These steps will complete box
730
on CT600, but you'll need to take the following steps to move the amount to the new boxes:
Right-click box
692 Super-Deduction
or
694 Special Rate Allowance
as needed, then select
Enable Editing
from the context menu.
Enter the balancing charge in one or both of these boxes, as needed.
Select box
730
and either press
Space bar
to remove the amount or, if there should be other items in the box, replace it with the correct amount.

Add a note if you applied the alternative method in version 21.2 or earlier

Go to the
Capital Allowance Explorer
.
Select the pool folder.
Select
Notes
.
Enter your note, then select
OK
.
Select
Close
, then
OK
.